Venus Wholesale Co. started carrying a new product in December. Purchases and sales of this product during the month were: Dec. 20 Purchased 240 units at $94 per unit. Dec. 26 Sold 220 units. Dec. 28 Purchased 240 units at $105 per unit. 5. Assuming the LIFO flow assumption is in use, the perpetual inventory records will indicate an ending inventory of this product of: $27,280. $27,080. $22,560. $24,660. NOTE: Venus Wholesale Co. started carrying a new product in December. Purchases and sales of this product during the month were: Dec. 20 Purchased 240 units at $94 per unit. Dec. 26 Sold 220 units. Dec. 28 Purchased 240 units at $105 per unit